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ORDINANCE NO. 3696 AN ORDINANCE OF THE CITY OF.AUBURN, WASHINGTON, RELATING TO INTERIM FINANCING
IN LOCAL IMPROVEMENT DISTRICT NO. 318 ACCEPTING THE OFFER OF RAINIER
NATIONAL BANK, AUBURN BRANCH, TO PURCHASE REVENUE WARRANTS AND
, FIXING THE INTEREST RATE ON SUCH REVENUE WARRANTS.
WAEREAS, under date of October 29, 1981; Rainier National Bank,
Auburn Branch, offered to.purchase revenue warrants of Local
Improvement District No. 318, such warrants to bear interesE at the rate
, of 13.0% per annum and to be redeemed within one (1) year from the
, date of issuance thereof;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN,
WASHINGTON, DO ORDAIN AS FOLLOWS:
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Section 1.. The offer of Rainier National Bank, Auburn Branch,
to purchase revenue warrants drawn upon the "Local Improvement
Fund No.318", to bear interest at the rate of 13.08 per annum is
hereby accepted. '
Section 2. The interest rate on such revenue warrants to be
issued in payment of the costs of the improvements made within Local
Improvement District No. 318 is hereby fixed at the rate of 13.0$ per
annum in accordance with the.duly accepted offer of Rainier National '
Bank,,Auburn Branch.Section 3. This Ordinance shall take effect and be in force five
(5) days'from and after its passage, approval and publication, as pro-
vided by law. INTRODUCED: 1 .NOVII4BER 2, 1981
' PASSED: . NOVFlMBER 2, 1981
. ' APPROVED: ' •NOVII"IBER'2; 1931
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ATTEST:
City Cler APP VE $fTO,~ .
City Attorney PUBLISHIDE NOVIINBER 8,,1981
Ordinance No. 3696
STATE OF WASHINGTON)
) ss.
COUNTY OF KZNG - ) I, Coralee A. McConnehey, the duly appointed, qualified City C2erk
of the City of Auburn, a Municipal Corporation and Code City, situate in
the County of King, State of Washington, do hereby certify that the foze-
going is a full, true and correct copy of Ordinance No. 3696 of the
ordinances of the City of Auburn, entitled "RN ORDINANCE OF THE CITY OF
AUBURN, WASHINGTON, RELATING TO INTERIM FINANCING IN LOCAL IMPROVEMENT
DISTRICT N0. 318 ACCEPTING THE OFFER OF RAINIER NATIONAL BANK,
AUBURN;BRANCH, TO PURCHASE REVENUE WARRANTS AND FIXING THE INTEREST
RATE ON SUCH REVENUE WARRANTS.
2 certify that said Ordinance No. 3696 Was duly passed by the Council
and approved by the Mayor of the said City of Auburn, on the 2nd day of '
NnvamhPr A.D., 19_aL. - I further certify that said Ozdinance No. 3696 was published as provided
by Iaw in the Daily Globe News, a daily newspaper pablished in the City of
Auburn, and of general circulation therein, on the $th~ day of NovembeY
A.D.. 19 $1 .
WITNESS my hand and the offical seal of the City of Avburn, this. 7th
day of December A.D., 19 81 •
CZTY CLERK OF THE CITY OF A
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